Expect the following technology stocks to be among Monday's most actively traded issues: Amazon.com, Lucent Technologies and Nortel Networks.
The online retailer figures to move Monday after announcing it agreed take a 5 percent stake in online car buying company Greenlight.com. Amazon.com will introduce the San Mateo, Calif. private company to 16 million online shoppers and in return will receive $82.5 million over five years and the opportunity to increased its stake by as much as 30 percent.
Ahead of the announcement, Amazon.com shares closed down 2 11/16 to 62 1/16.
Lucent shares will be interesting to watch Monday after a rather positive article from Barron's this weekend.
In an article published Saturday, Barron's said Lucent has enough new products to capture customers migrating from circuits to packets in the networking business.
Lucent shares have been in the tank of late after warning of disappointing earnings this quarter and then checking in at the bottom of revised estimates at 36 cents a share.
Lucent shares closed up 1/4 to 52 3/4 Friday.
Nortel should pick up ground Monday after announcing that it will better fourth-quarter estimates when it reports results on Tuesday, prompted mainly by hot demand for fiber-optic network gear.
Nortel is expected to exceed analysts' profit estimates of a 41 cents a share by a few cents.
Bullish expectations propelled Nortel shares up 5/16 to 102 5/8 Friday.
Chris Stix, an analyst at SG Cowen & Co. in Boston, believes Nortel will beat expectations when it reports after the market's close on Tuesday, based on healthy sales in its optical, network access and wireless gear divisions. He suggested in a recent report that sales could even be strong in Nortel's enterprise division, which had slumped as customers diverted spending from data equipment to Y2K computer repairs.
``We expect Nortel to deliver upside results, with revenue exceeding our estimate of $6.45 billion by $300 million or so and earnings per share exceeding our estimate of 41 cents by 2 cents to 3 cents,'' Stix wrote.
Reuters contributed to this report.>